Cairo – Mubasher: Local liquidity in Egypt continued its upward trend, growing by 1.9% or EGP 87 billion month-on-month (MoM) to a historic level of EGP 4.538 trillion in June from EGP 4.451 trillion in May, official data showed.

Year-on-year (YoY), local liquidity rose by 17.5% from EGP 3.86 trillion in June 2019, according to data released by the Central Bank of Egypt (CBE).

On the other and, the money supply retreated to EGP 1.084 trillion in June from EGP 1.095 trillion a month earlier.

It is worth mentioning that Egypt’s net international reserves increased by $2.2 billion to $38.201 billion at the end of June from $36.003 billion in May.